The comparison shows offers for conceivable credit despite credit bureau from Germany. Please do not shy away from the application, because it is completely non-binding for you.
Self-employed car loan without credit bureau – problem
The self-employed may earn well, but they are not welcome customers at banks. The reason is the income of this group of people. Income may flow in abundance for a month, but the whole month falters. This means that banks have no security of payment and refuse a loan. The self-employed can do a lot to get a simple loan approval. All proof of income should be carefully compiled.
Most of these are the income tax notices of the past few years. The bank often requires three tax returns for a car loan. However, since the self-employed often postpone these annoying tax transactions for a long time, they are of course not available for an income check.
However, in order for a loan application to be successful, this proof of income must be available. The other approval feature is the clean credit bureau. If the credit bureau shows negative entries, then all lenders shy away. Only with some preliminary work can a real credit opportunity be worked out.
Self-employed car loan without credit bureau – loan request
A car is often essential, especially for the self-employed. It is needed for customer service and also in sales or as a mobile workshop. It is difficult to visit customers with public transport. Generally, the self-employed therefore need their vehicle to earn their money.
The self-employed, however, have no secure and constant income. Therefore, the income is classified as unsafe.
No credit losses or other abnormalities are responsible for this, but this is based on the Basel 2 agreement. Since this agreement came into force, people who do not have a fixed employment contract do not receive a loan or only with difficulty. In the professional group of freelancers, only doctors or lawyers are considered safe borrowers. Your credit rating is simply assumed to be excellent.
Other occupational groups are classified as risk.
Self-employed car loan without credit bureau financing
The self-employed have the opportunity to finance a car through the car dealer. The dealer will behave courteously if an extremely high down payment is on the table. However, this is not generally safe. Even distributors of so-called noble bodies are afraid that they will not see their money again and behave negatively with a self-employed person.
The situation is different when the car is leased. Vehicle leasing can then bring advantages for the self-employed. After the leasing period has expired, the vehicle may change hands at the residual value. This means that the self-employed can pursue their duties and only finally buy the car later.
Likewise, the “pre-tax problem” is eliminated and thus the trouble with the tax office. Leasing with a high down payment is also possible.
Self-employed car loan without credit bureau – buy or lease?
In order to avoid the question of a car loan and especially since credit bureau is burdened, many self-employed people decide to lease a car. The credit line, which is restricted and tied to many rules, also plays a crucial role here.
Anyone who finances a car loan from a bank has to submit the latest income tax assessments in addition to the balance sheet of the business evaluation. This is the only way that the application can be checked.
In addition, the vehicle letter is often deposited with the bank as additional security. If there is a loan default, the bank can move the car in and sell it, thereby covering the remaining debt. The self-employed want to avoid this rather complex credit check and decide to lease it. Here, leasing has its advantages.
Because the leasing rate is fully tax deductible. The disadvantage is that the car does not belong to the self-employed and goes back to the dealer after the contract ends.
If there is not enough money to buy it for residual value, the game starts again.
Self-employed car loan without credit bureau – credit bureau-free loan
Self-employed people find it difficult to get a loan from a bank anyway. With a burdened credit bureau this wish will be almost impossible to fulfill. Many credit agencies offer their services for this. The advertising promises to get a loan even in the most difficult cases.
The credit bureau-free loan has strict conditions. Not everyone, contrary to advertising, will get this loan. Preferred customers are workers and civil servants. All applicants must have a fixed employment relationship, and the duration of employment depends on the amount of the loan.
The bank that issues a credit bureau-free loan is based in Liechtenstein. As research has shown, the following are excluded from lending:
- Over-indebted borrowers
- Self-employed, freelancers
- temporary workers and housewives
- Unemployed or welfare recipients
A car loan for self-employed persons without credit bureau is therefore out of the question. As far as is known, this loan cannot be secured with a guarantor.
Self-employed car loan without credit bureau solution
All credit attempts have failed. No car loan is granted at a bank or dealer. Then the self-employed have the opportunity to increase the credit chances with a guarantor or co-applicant. The guarantor must be solvent and have a sufficient and regular income.
His credit bureau should be clean and his employment should be permanent and not limited. In addition, the guarantor must be made aware of the risks of a guarantee. After all, he is liable with his assets for a loan from another. He should also know that the credit is entered in his credit bureau and his credit rating is reduced.
If a joint and several guarantee is taken out, the borrower does not even have to prove his insolvency, the guarantor is immediately held responsible. If a guarantee, then a default guarantee.
The guarantor will only be in recourse once the borrower has gone through all legal instances and his insolvency has been determined. Only then is the guarantor brought up.
Self-employed car loan without credit bureau – other loans
Those who do not want to mortgage property and do not want to involve other people in their financial relationships can look around for the so-called peer-to-peer loans.
There are also platforms on the Internet where private investors come together with loan seekers. The loan request is carried forward and if an investor likes the profile, he can bid on the loan amount.
A trustworthy and understandable credit request therefore has the prospect of approval. However, the following applies to all loans from Germany – including P2P:
They are only possible “despite credit bureau” and not as a self-employed car loan without credit bureau.